General Electric Co. intends to implement your own real estate, which is estimated at approximately $ 30 billion. The business associated with the property, turned out to be unprofitable for the firm.

General Electric Co. intends to implement a part or a complete package of real estate, which is estimated at 30 billion dollars, informs RIA Novosti. It turns out that the transactions with the property became unprofitable for the company.

General Electric has office buildings, apartment complexes and other commercial real estate. Currently the company is negotiating with the Fund Blackstone and economic company Wells Fargo on the sale of property for $ 26.5 billion. It is expected that the deal will declare soon.

It turns out that business in the field of real estate has led to "jam" tariffs for shares of the company at around $ 25. With all this, during the financial crisis, the price of securities was higher - at $ 30 each.

Now the company is going to completely renounce operations in the banking sector and to leave only those segments that support its industrial companies, informs "Interfax". If in 2014 the share of profits from industrial units was 58%, 2018 General Electric expects this figure to increase to 90%. It is assumed that the reduction of parts of the business and the sale of the property will bring the company a profit of 35 billion dollars.

In addition the company announced the launch of the company to repurchase its own shares worth up to $ 50 billion. As reported on 9 April 2015, the price of securities of General Electric in electronic trading increased by 3%.
sections: World News, Economics